2020-11-24 10:43:28 BMY-R Bristol-Myers Squibb CVR
Bristol Myers
11/24/20 11/2410:43 11/24/2010:43 | Bristol-Myers Squibb CVR rallies as FDA resumes domestic inspectionsFDA Commissioner Stephen Hahn said yesterday via Twitter, "We have resumed prioritized domestic surveillance inspections and are using all available tools & sources of information to support regulatory decisions on applications that include sites impacted by FDA's ability to inspect due to #COVID19...The FDA is also expanding the use of other tools and approaches that have proven effective to help ensure the quality of drug products imported into the United States during this interim period, when possible." The move higher in shares of Bristol-Myers Squibb CVR (BMY-R) is being attributed to the FDA resuming inspections. The contingent value right is up 36% to $1.075 in morning trading. The CVR entitles holders to receive a one-time potential payment of $9.00 in cash upon Federal Drug Administration approval of three drugs: ozanimod, which was approved in March, liso-cel by December 31, 2020, and ide-cel, known as bb2121, by March 31, 2021. If the CVR milestones are not all achieved, no payment will be made, and the CVRs will expire. Bristol-Myers Squibb CVR
Bristol Myers
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